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Mar 20, 2013
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therefore, we will be looking at fresh elections in june and a caretaker government until then. which if you're an american investor is like a get out of jail free card. >>> meanwhile, the home builders are rallying into the close. check out the guys,ys,oe simmon, all gains. george osbourne here has given his annual budget. he told the bank of england to do more to stimulate the u.k. economy. 2% is a target, it's not enough. he wants more extraordinary measures. in other words, he wants more qe. don't forget the bank of canada's governor is taking over the bank of england in june. what's interesting is that the recent bank of england meetings actually they have rejected the idea of more qe above half a trillion u.s. dollars for fear of what it might do to sterling. this is important going forward. look at the decline this year that you have had for sterling against the dollar compared to the decline that you have had on the euro. it's a much bigger fall. it's a much smaller economic area. beware of sterling crisis in 2013. scott, back to you. >> thanks so much for that. so what
therefore, we will be looking at fresh elections in june and a caretaker government until then. which if you're an american investor is like a get out of jail free card. >>> meanwhile, the home builders are rallying into the close. check out the guys,ys,oe simmon, all gains. george osbourne here has given his annual budget. he told the bank of england to do more to stimulate the u.k. economy. 2% is a target, it's not enough. he wants more extraordinary measures. in other words, he...
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Mar 25, 2013
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or taxpayer dollars from the state government. it's the same taxpayers across the country. >> neil: to your point, whatever you get, be careful what you wish to. i don't want to get into the details of the plan to cover illegals with health care, but gets to the bigger point of added spending. the architects of the plan were saying, alet more problems than we envisioned. i'm paraphrasing but you get the gist. the taxes, fees, add ons, drop in parttime workers who lost their health insurance and other workers who lost their job because of companies taking on the held insurance is more than the strongest opponents imagined. >> that's exactly right. if you recall, speaker pelosi said we have to pass the bill to find out what's in it. now we're seeing the downside of that kind of thought process and not taking a very careful look at the thousands of thousands of pains to -- pages to see whereman is going to be spent. what it's costing business across the country and it's costing the taxpayers. >> neil: i know you're going to be meetin
or taxpayer dollars from the state government. it's the same taxpayers across the country. >> neil: to your point, whatever you get, be careful what you wish to. i don't want to get into the details of the plan to cover illegals with health care, but gets to the bigger point of added spending. the architects of the plan were saying, alet more problems than we envisioned. i'm paraphrasing but you get the gist. the taxes, fees, add ons, drop in parttime workers who lost their health...
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Mar 26, 2013
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think it will be before governments start sniffing around your bank account. frankly, i believe it's not long. think this country, when first federal income tax was just to blender efforts of world war i but it stuck around. or europe. expanded. what started out as a 4% tax for millionaires is now north of 20%, and en snaring, well, everyone. that is what concerns me about this cyprus tax. what the poor saps will discover when the banks reopen in cyprus, run. can't take their money and the government is watching and limiting, and i am kind of worrying. what is going on in this island nation, is a tsunami. bank on it. literally. to rich edison, in cyprus to this nervous night before, hey, rich. >> good evening neil, you have to imagine, folks without access to their banks account will have some tomorrow 8:30 in the morning. for more than a week these folks had closed banks today there was a bit of a lull, in fact that banks were closed not because of a bank panic but a regular holiday, greek independence day. but there are thoughts to last week with long lines
think it will be before governments start sniffing around your bank account. frankly, i believe it's not long. think this country, when first federal income tax was just to blender efforts of world war i but it stuck around. or europe. expanded. what started out as a 4% tax for millionaires is now north of 20%, and en snaring, well, everyone. that is what concerns me about this cyprus tax. what the poor saps will discover when the banks reopen in cyprus, run. can't take their money and the...
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Mar 19, 2013
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there are functions for the government. they need to remember what those things are and leave the rest of us alone. >> neil: what they discovered, as you warned -- this is prior to your prayer breakfast meet and greet with the president -- that all of a sudden the goodies would be showcased up front. the problems would be later. the goodies were fewer, the problems many more, and the cost of this potentially much, much hire than the thought. how is all of this rolling out now? >> well, of course the reason that it was done in secret, rather than in a transparent manner in which it was supposed to have been done, is because there are so many bad parts of it. there's so many obligations so many new taxes associated with it. it's incredibly expense simple. it was supposed to lower the cost. it has raised the cost of the premiums for average family, and in the neighborhood of $5,000. this is a disaster. and the real question is, will anybody have the honesty to own up to the fact this is a disaster and saying can we start over
there are functions for the government. they need to remember what those things are and leave the rest of us alone. >> neil: what they discovered, as you warned -- this is prior to your prayer breakfast meet and greet with the president -- that all of a sudden the goodies would be showcased up front. the problems would be later. the goodies were fewer, the problems many more, and the cost of this potentially much, much hire than the thought. how is all of this rolling out now? >>...
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Mar 18, 2013
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the american federation of government employees organized the event which is just one of about 100 rallies taking place nationwide. amazon publishing is planning to speed up royalty payments to its authors. amazon sent a letter to literary agents saying it will start paying monthly royalties within 60 days of the end of each month every month. authors were typically being paid every three months. we continue our countdown to "co the closing bell" with cheryl casone. ♪ cheryl: shares of broad come are chipping, get it, higher or today after a new report. let's head back to nicole at the new york stock exchange. one pun, nicole, just one. >> reporter: right. well, this is a big deal here for broadcom, and we're going to take a look at several of the names in the industry. broadcom is up about a half of 1%. but there are some interesting reports out. so the new samsung galaxy which everybody is all hot on that the s4 uses a broadcom chip rather than an nxt part. this is according to nfc times, they confirmed it in a column. and what's interesting, they're saying that the broadcom chip is be
the american federation of government employees organized the event which is just one of about 100 rallies taking place nationwide. amazon publishing is planning to speed up royalty payments to its authors. amazon sent a letter to literary agents saying it will start paying monthly royalties within 60 days of the end of each month every month. authors were typically being paid every three months. we continue our countdown to "co the closing bell" with cheryl casone. ♪ cheryl: shares...
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Mar 21, 2013
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we're talk about the city government. but occupancy is 95% in downtown, mid-town detroit. employers are bringing jobs back into detroit. there's exciting things that, if we resolve this, detroit has a bright future. >> neil: in the meantime, you have been worried about what is happening not only in detroit but the state, healthcare coming, a lot of democrats saying on this, the third anniversary of the healthcare law, that they're not running away from it. they're embracing it and, in the mid-term elections they're going to keep pushing and it go after republican governors who have been opposing and it resisting it, because this is the law, this is the way. americans like it, and you've got to get on the wagon. >> well, what i say is, i believe i need to comply with the laws as an elected official. about the affordable care act was misfire in many respects. there's two other things that are more important that are not being addressed. first is health and wellness. we need more personal responsibility. to solve our healthcare crisis if we took better care and if they didn't
we're talk about the city government. but occupancy is 95% in downtown, mid-town detroit. employers are bringing jobs back into detroit. there's exciting things that, if we resolve this, detroit has a bright future. >> neil: in the meantime, you have been worried about what is happening not only in detroit but the state, healthcare coming, a lot of democrats saying on this, the third anniversary of the healthcare law, that they're not running away from it. they're embracing it and, in the...
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Mar 18, 2013
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they're going to argue that the government could shut down. and this is their attempt to say, we won't brick -- bring it to that pranksmanship because we don't want it on our door step we caused it. but it's going to boomerang on them. they retook the upper hand and now they're giving it away. >> exactly right. sequestration was passed a year and a half ago, part of the plan a year and a half ago. all the republicans had to do is keep their mouth shut and stay out of the way. thank god they did that. here we go again. if they're not going to stand up now, to obama, and this absolute mindless spending, and borrowing and printing, then i have to say, neil, what the hell good are they? i'm going to tell you i'm not alone in this. the republicans putting out a statement today, compassionate conservatism, whatever, if they don't get serious and substantive and start to take affirmative steps to bring this government under control the republican party is going down. i'm telling you that right now. >> neil: obviously punted a little bit over the week
they're going to argue that the government could shut down. and this is their attempt to say, we won't brick -- bring it to that pranksmanship because we don't want it on our door step we caused it. but it's going to boomerang on them. they retook the upper hand and now they're giving it away. >> exactly right. sequestration was passed a year and a half ago, part of the plan a year and a half ago. all the republicans had to do is keep their mouth shut and stay out of the way. thank god...
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Mar 22, 2013
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the government is doing everything in its power to avoid that. tonight at 8:00 we're going to discuss, it might not be enough. . with scottrade's online banking, i get one view of my bank and brokerage accounts with one login... to easily move my money when i need to. plus, when i call my local scottrade office, i can talk to someone who knows how i trade. because i don't trade like everi'm with scottrade. me. (announcer) scottrade. awarded five-stars from smartmoney magazine. all stations come over to mithis is for real this time. step seven point two one two. . command is locked.
the government is doing everything in its power to avoid that. tonight at 8:00 we're going to discuss, it might not be enough. . with scottrade's online banking, i get one view of my bank and brokerage accounts with one login... to easily move my money when i need to. plus, when i call my local scottrade office, i can talk to someone who knows how i trade. because i don't trade like everi'm with scottrade. me. (announcer) scottrade. awarded five-stars from smartmoney magazine. all stations come...
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Mar 26, 2013
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the government and banks are so close -- when you say banks are bad, the government is bad. >> neil: the government can see protesters not protesting the government but the evil banks, because banks are always evil. >> they're doing this because it's the regular cypriots who are getting here. not the russians. they got their money out. the very wealthy managed to protect themselves. it's the people who live in that country, who are so angry, protesting right this very minute who got hurt. >> neil: how bad does this get as far as a scandal and how much it hurts banks, there, here, everywhere? >> imagine this country is only the size of yellowstone national park. the population is as big as dallas but the ramifications and reverberation, why don't people in spain take money out of the bank. people in eu said we love this idea of taking money out of individual banking deposits. so, it's going to happen again. so why you keep your money in a european bank at this point? i have no idea. there could be more runs. >> neil: we'll watch very closely. thank you very much. and i think she put i
the government and banks are so close -- when you say banks are bad, the government is bad. >> neil: the government can see protesters not protesting the government but the evil banks, because banks are always evil. >> they're doing this because it's the regular cypriots who are getting here. not the russians. they got their money out. the very wealthy managed to protect themselves. it's the people who live in that country, who are so angry, protesting right this very minute who got...
SFGTV2: San Francisco Government Television
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Mar 18, 2013
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the other problem is we are not allowed to introduce cars sharing because there are things that the government will not allow us. but they are gradually changing their mind. they say in 2015, maybe we can go on with the program. >> you should see the graph of car use and bicycle use in amsterdam when they increased parking fees. the car use went down, the bicycle use went up. higher parking fees are very effective in decrease in car use and increasing other modes of use -- in decrease in car use iqi 5u9 it was quite effective. another thing, peter talked about the parking permit. in amsterdam, you have to wait two and half years before it because you -- you have to wait two and a half years for the parking permit. >> people except they can just not have a car. in amsterdam, the other modes of transport are so well-organized, it is just like in the hague, a car is more of a new sense that a create a car is more of a nuisance and liability. it is expensive. the other modes of transport are much more convenient. >> ok, mike, you have a question? use the microphone, please. >> separated bike paths
the other problem is we are not allowed to introduce cars sharing because there are things that the government will not allow us. but they are gradually changing their mind. they say in 2015, maybe we can go on with the program. >> you should see the graph of car use and bicycle use in amsterdam when they increased parking fees. the car use went down, the bicycle use went up. higher parking fees are very effective in decrease in car use and increasing other modes of use -- in decrease in...
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Mar 21, 2013
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government -- u.s. economy's improving. but we still have fundamental issues in the structure of our economy, imbalances. we are not out of the woods yet. we're not in self-sustaining recovery. we need to start to see that to become increasingly more bullish on the financial markets. >> that was really good. you're a good double act. we should have you on more. thank you both. brian and chad. have great days. >>> seven years ago today twitter co-founder jack dorsey sent the first tweet writing just setting up my twitter. since then the media giant has become a staple for millions. it has transformed the way people communicate so what could twitter do in the next seven years? tweet us @squawkstreet. >>> the market is accelerating downward, now down 67 points. let's get a "market flash" from josh back at hq. >> juniper networks is under pressure this morning. analysts at fbr not fans saying we are the end of an era as routers and switches are set to decline. fbr downgrades juniper and cisco toeon perform. the company's fbr sa
government -- u.s. economy's improving. but we still have fundamental issues in the structure of our economy, imbalances. we are not out of the woods yet. we're not in self-sustaining recovery. we need to start to see that to become increasingly more bullish on the financial markets. >> that was really good. you're a good double act. we should have you on more. thank you both. brian and chad. have great days. >>> seven years ago today twitter co-founder jack dorsey sent the first...
SFGTV: San Francisco Government Television
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Mar 20, 2013
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it is a process that is the opposite of good government. this legislation has no subtantive impact on c-e-q-a. despite some of the dramatic claims that this is, quote-unquote, gutting c-e-q-a, we of course had no power to amend c-e-q-a locally. this legislate ace is totally separate from the proposal circulating in sacramento to potentially amend c-e-q-a in one way or another. ~ legislation this legislation merely sets our procedures for how we allow appeal. and i want to note that there are organizations that are very active opposing the proposed changes in sacramento to c-e-q-a itself. those organizations are not opposing this legislation. in fact, we just heard today that the state building and constructions trade councilmember which has been one of the leaders fighting the changes to c-e-q-a in sacramento has officially stated that they have no issue with what we are doing here in sacramento. ~ council today i'm sure you'll hear some of the same arguments we heard last time. there will be criticisms of the process around this legislatio
it is a process that is the opposite of good government. this legislation has no subtantive impact on c-e-q-a. despite some of the dramatic claims that this is, quote-unquote, gutting c-e-q-a, we of course had no power to amend c-e-q-a locally. this legislate ace is totally separate from the proposal circulating in sacramento to potentially amend c-e-q-a in one way or another. ~ legislation this legislation merely sets our procedures for how we allow appeal. and i want to note that there are...
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Mar 20, 2013
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forcing governments, in this case the government in cyprus to look elsewhere. again, do we want europe -- talking to the russian government about getting financial assistance, to get out of the blackmail in europe. this is very peculiar. >> it sounds to me like the decision you would like to see is one that ends up bailing out russian depositors in the banking system. those who are not insured. is that a bailout that you think is the right one? and one that should be approved by, for example, by german taxpayers or paid for by german taxpayers? >> so this is the rhetoric you refer to is precisely part of the rhetoric that has been distractive in handling the crisis in the last three years. first of all, confiscating deposits in a banking system is not the proper way to deal with anything. and this is what the european governments have proposed. second of all, we're not talking about making a gift to anybody. when the government of cyprus is out of market and cannot finance its own needs from international markets, under the circumstances, other countries throug
forcing governments, in this case the government in cyprus to look elsewhere. again, do we want europe -- talking to the russian government about getting financial assistance, to get out of the blackmail in europe. this is very peculiar. >> it sounds to me like the decision you would like to see is one that ends up bailing out russian depositors in the banking system. those who are not insured. is that a bailout that you think is the right one? and one that should be approved by, for...
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Mar 24, 2013
03/13
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if the government can invest in all of these banks and th then-- why doesn't the government spin off the post office? >> it's ham strung, i think, adam by the requirements out of date. now, if it's forced to play by these rules and its competitors in the private world are not, then it's never going to get out of its own way. >> yeah, it's worse than that, neil. not only are they required to do certain things, but they're prevented, prohibited from certain things. for example, they can't sell advising on their trucks which would be something really obvious. they can't sell milk or beer or other things that might make them money because they've got great store front real estate. so i completely agree he ththat we could do an ipo. >> you know the model would be? the model would be fannie and freddie. >> they have a monopoly they enjoy. >> not a great monopoly. >> if they deliver to a town with two people. i say-- >> until congress unshackles the postmaster general and those trying to run it, money will be spent propping this up. >> you made the case it should. the bottom line it's uneco
if the government can invest in all of these banks and th then-- why doesn't the government spin off the post office? >> it's ham strung, i think, adam by the requirements out of date. now, if it's forced to play by these rules and its competitors in the private world are not, then it's never going to get out of its own way. >> yeah, it's worse than that, neil. not only are they required to do certain things, but they're prevented, prohibited from certain things. for example, they...
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Mar 18, 2013
03/13
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signs off on any other plan if this one gets ditched, if the cyprus government rejects it. it has to be put to a vote in cyprus. >> also, as we look at what happened with asian markets overnight and the european markets as well, spanish bonds, italian bonds, those yields jumped on this news so really, the story is already spreading at least from an investment perspective. >> that was the fear overnight that immediately you would get runs on the banks in spain and italy and other countries as depositors there feared that this set a precedent and you could get the same tax over there but as the day wore on, i think people are coming to the conclusion that this is cyprus specific because they don't have bonds. they have mostly depositors and so it is more specific to cyprus and cyprus is not that important and the feeling is somehow they'll work it out. i think what the markets are telling you today is that they can handle this. it is an interesting intellectual precedent, though. cheryl: a lot of russian, wealthy russians have money parked in cyprus banks so you've got, you k
signs off on any other plan if this one gets ditched, if the cyprus government rejects it. it has to be put to a vote in cyprus. >> also, as we look at what happened with asian markets overnight and the european markets as well, spanish bonds, italian bonds, those yields jumped on this news so really, the story is already spreading at least from an investment perspective. >> that was the fear overnight that immediately you would get runs on the banks in spain and italy and other...
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Mar 21, 2013
03/13
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>> yeah, what happens was the federal government is pushing out a new system that's completely autmated for the emerncy alert system, and tat equipmenis poorly secured. everyone thought it's no big deal. it's inside the station's network. who is going to get in there? that's the problem. we have to assume the attackers are in the network persistly, and we have to take the critical assets, treat them as the crown jewel, and be smartand stop thinking about fire walls and protecting our outer layer. gerri: dng it the wrong way, you say. thhy sent out fake alerts, which, to me, is squarey because you rely on that emergency alert system to keep you safe. >> yeah, and if we have false alar on those systems, then people don't pay atention to the real alarms. it's a real problem going back to the issue of we got to stp thinking fire walls and antivirus. thbad gus are in the networks. what are we going to do strategically? differently? a ground changer to be proactive rather than reactive when it comes to protecting our critcal infrastructure and our informatioassets. >> phyllis, you're -- your
>> yeah, what happens was the federal government is pushing out a new system that's completely autmated for the emerncy alert system, and tat equipmenis poorly secured. everyone thought it's no big deal. it's inside the station's network. who is going to get in there? that's the problem. we have to assume the attackers are in the network persistly, and we have to take the critical assets, treat them as the crown jewel, and be smartand stop thinking about fire walls and protecting our...
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Mar 21, 2013
03/13
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tracy: is the federal government wasting money with the student loan program? that's a rhetorical question. is there a better way to help our kids? could one bad online review hurt your business? as a customer, do you believe everything you read? come on. breaking down sites like yelp next. ♪ are you flo? yes. is this the thing you gave my sband? well, yeah, yes. the "name your price" tool. you tell us the price you want to pay, and we give you a range of options to choose from. careful, though -- that kind of power can go to your head. yo, buddy! i got this. gimme one, gimme one, gimme one! the power of the "name your price" tool. only from progressive. ♪ tracy: so, beyond denver -- beyond advertising. people rude. this place has gone completely downhill. reviews of light is on line for everything from restaurants, hotels conductors, even churches and the recent survey found 70 percent of consumers trust of one reviews just as much it -- much as recommendations from family and friends. what should you he did a business and you get a really bad review. look
tracy: is the federal government wasting money with the student loan program? that's a rhetorical question. is there a better way to help our kids? could one bad online review hurt your business? as a customer, do you believe everything you read? come on. breaking down sites like yelp next. ♪ are you flo? yes. is this the thing you gave my sband? well, yeah, yes. the "name your price" tool. you tell us the price you want to pay, and we give you a range of options to choose from....
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Mar 25, 2013
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the cypriot government does not have to approve the deal. is that not weird it you in the biggest worry to me is the effect of this whole union of the think banking commit pep steve liesman was talking about it this morning and i think he's right. there will be people slowly moving deposits out of the higher risk countries and maybe into the u.s. and the uk, as well. here's what to look for. april 4th and that's the ecb meeting. watch what mario draghi has to say about that and that he'll make liquidity more available to banks. remember those ltros that they did about a year ago. don't be surprised that they dragged those things out again and everybody was talking about the weak top line growth. there is the company that has to be the envy for everybody looking for top line growth. their projected sales for 2014 and 10% to 12% increase and take out all of the new stores and same-store sales growth, 4% to 6% and those are really good numbers and that stock's up today sitting at a six-month high and i want to see a big welcome to people on the
the cypriot government does not have to approve the deal. is that not weird it you in the biggest worry to me is the effect of this whole union of the think banking commit pep steve liesman was talking about it this morning and i think he's right. there will be people slowly moving deposits out of the higher risk countries and maybe into the u.s. and the uk, as well. here's what to look for. april 4th and that's the ecb meeting. watch what mario draghi has to say about that and that he'll make...
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Mar 23, 2013
03/13
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this is their idea of government. everybody in the country needs to be paying attention to what the democrats and in some cases a handful of republicans are doing. at a time when we should be talking about transparency on the issues of our time. we are simply being brushed aside by imperious and elitist government. just a few days later, lawmakers admitted they were adopting law enforcement officers. imagine not. a month later, they said they wanted to use anned assault weapons. earlier this week, governor cuomo admitted that he had to amend the law. because it bans the sale of this. they didn't even think about that. the idiocy of the whole process is astounding. new report out today saying that governor cuomo is trying to lure the "tonight show" back to manhattan. that is right, nbc with three shows is trying to, well, basically dump the host of one of their three winning shows. these are brilliant people. right and to get the show back to manhattan providing 30 percent tax break if it decides to leave to caper but
this is their idea of government. everybody in the country needs to be paying attention to what the democrats and in some cases a handful of republicans are doing. at a time when we should be talking about transparency on the issues of our time. we are simply being brushed aside by imperious and elitist government. just a few days later, lawmakers admitted they were adopting law enforcement officers. imagine not. a month later, they said they wanted to use anned assault weapons. earlier this...
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Mar 23, 2013
03/13
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the government up front saying we're going to take your money. we're doing it secretly, and i think the honest approach is better. shibani: they make parallels in cypress, and what you mentioned happens here in the u.s., but the levy on bank deposits, this is what is causing a storm, and it's really getting people upset. are you concerned about any kind of precedence this could bring into the industry into europe and what it could do to banking confidence as a whole because when you start to have runs on banks and runs into atms as we see vis walls of and people concerned about whether or not they get their money, that creates panic. >> yeah, i think, you know, it could be a wakeup call. i own an offshore bank in the caribbean, and our business, since the cypress event, is up about 150%, so a lot of people are looking for safer places to park money because people are starting to think about whether posit insurance is not all that it's marketed to be. the fdia insures 8 trillion in deposits, but 25 billion in reserves. my bank in the caribbean is
the government up front saying we're going to take your money. we're doing it secretly, and i think the honest approach is better. shibani: they make parallels in cypress, and what you mentioned happens here in the u.s., but the levy on bank deposits, this is what is causing a storm, and it's really getting people upset. are you concerned about any kind of precedence this could bring into the industry into europe and what it could do to banking confidence as a whole because when you start to...
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Mar 23, 2013
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provincial government. it is incredibly thin in quÉbec. i like it, they power my car to get here. i'm not going to be an idiot to ride my bicycle to work and tucks in my pants. neil: steve, it is always good to have you. on that issue, whether it is big oil or anything above, saying the. neil: i do want to focus on this development about all of the money company selling out. but not like you'd expect help the economy. as we mentioned, a very serious commitment. >> the s&p 500 pays out in dividends. also hitting the 118 billion. letting the multiplier taken fact for invetors. the. neil: what you make of that? >> everyone running these companies -- not all of them are rational people. as opposed to taking a risk in investing it in some other way. it might create jobs, butt could also be a risk to the company. i sat on the board of the company that did just that. we looked at all of the options and say, we have cashier. we c use this cash. >> yes, this is still capital preservation. >> yes, a few things going
provincial government. it is incredibly thin in quÉbec. i like it, they power my car to get here. i'm not going to be an idiot to ride my bicycle to work and tucks in my pants. neil: steve, it is always good to have you. on that issue, whether it is big oil or anything above, saying the. neil: i do want to focus on this development about all of the money company selling out. but not like you'd expect help the economy. as we mentioned, a very serious commitment. >> the s&p 500 pays...
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Mar 18, 2013
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this move is unprecedented, it would basically allow the government to skim the bank accounts of every single person who makes a deposit into a cyprus bank account. if that is not enough, the country has closed all banks until thursday so if the decision is made there will not be anything anybody can do if they have money in the bank. now the world is bracing and waiting. what you should do with your money and with the impact could be. so excited to have you on tonight. university of chicago professor. what a team. let me start with you because i want you to set the scene for us because some people hear this and i think of cyprus is a tiny island, who cares. this could set off a chain reaction around the world, tell me why. >> if you have your bank deposits in another country that is shaky, italy, spain, portugal, and greece, you will say in my the next in line? so what we will be looking for over the next week or at any time or attention turns to a potential crisis in any of those countries is whether or not there is a run on the bank. the other thing we noted is they are still jiggli
this move is unprecedented, it would basically allow the government to skim the bank accounts of every single person who makes a deposit into a cyprus bank account. if that is not enough, the country has closed all banks until thursday so if the decision is made there will not be anything anybody can do if they have money in the bank. now the world is bracing and waiting. what you should do with your money and with the impact could be. so excited to have you on tonight. university of chicago...
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Mar 20, 2013
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we're scared of how the government keeps putting money in people's market. the government trumped 2.4 million jobs and they didn't talk about the 1.9 million people on food stamps and snap program. so we're just very, very cautious. >> you're a new york, l.a. california guy. >> i'm not sure where this is going. >> you're not drinking the kool-aid on the big government? >> no. >> steve, thank you for being here. >> it's been a lot of fun. >> thank you. make sure you join us tomorrow. "squawk on the street" begins right now. ♪ ♪ ♪ >>> good wednesday morning. welcome to "squawk on the street." i'm melissa lee with jim kramer and scott wapner. carl quintanilla and david faber have the week off. let's take a look at how we are setting up in the united states. we are looking at a strong open higher and the dow up at 79 points and yesterday we did see signs of life and the dow surging late in the session and the dow looking to snap that three-day losing streak. as for europe, both stocks and the euro seeing some relief. we do have a bounce here, a nice one, i
we're scared of how the government keeps putting money in people's market. the government trumped 2.4 million jobs and they didn't talk about the 1.9 million people on food stamps and snap program. so we're just very, very cautious. >> you're a new york, l.a. california guy. >> i'm not sure where this is going. >> you're not drinking the kool-aid on the big government? >> no. >> steve, thank you for being here. >> it's been a lot of fun. >> thank you....
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Mar 20, 2013
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government, but, there is another issue here. why is it after theyurn down going following us in that, they sue the new york fed? they are now suing the new york fed. neil: all right, you remember him hank is ready to let her rip, a judge letting his lawsuit against the government continue. in effect, pitting the guy who ran aig against the tax payers who rescued the aig which is why present aig management that announced it wants to be no part of this. to aigeo robert benmosche on whether he agrees with that, welcome. >> thank you, neil. neil: not a part of this? >> not a part. neil: why not. >> we went through a careful analysis, what is said about events that occurred during the time we had to make a decision was press and no, fen you are part of it -- no ofection you are part of it, instead of asking why would aig after getting support it got working so hard to payback america and thank america, why would they sues government. that sun fortunate, i think -- that is unfortunate, i think people are angry about the fact that we g
government, but, there is another issue here. why is it after theyurn down going following us in that, they sue the new york fed? they are now suing the new york fed. neil: all right, you remember him hank is ready to let her rip, a judge letting his lawsuit against the government continue. in effect, pitting the guy who ran aig against the tax payers who rescued the aig which is why present aig management that announced it wants to be no part of this. to aigeo robert benmosche on whether he...
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because the syrian government knows that the u.s. france britain is waiting to strike those are the very last may be wanted to provoke that sort of intervention so it would be lunacy and madness for president assad's forces to use chemical weapons and so if you know we have a can of worms has been used it has to be by the rebels and if that's the case then obviously that will highlight the hypocrisy of the u.s. and the west because they said the red line the chemical weapons are only seems to apply present assad's forces use of the syrian army and so we're going to be consistent on these chemical weapons to use me is wrong and if the rebels are using them they should be conducted to war crimes now the opposition the prime minister i guess a naturalized u.s. citizen what do you think drove this election his election but it reminds me of the election about ecommerce of mahmoud jibril in libya if you think back two years to the libyan air. and to see a very similar scenario because. he had spent many decades in the us he'd studied in th
because the syrian government knows that the u.s. france britain is waiting to strike those are the very last may be wanted to provoke that sort of intervention so it would be lunacy and madness for president assad's forces to use chemical weapons and so if you know we have a can of worms has been used it has to be by the rebels and if that's the case then obviously that will highlight the hypocrisy of the u.s. and the west because they said the red line the chemical weapons are only seems to...
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Mar 19, 2013
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you have to hold the government accountable for what it does! you can't take private property away from shareholders and say "i'm not going to bother to do it." >> rose: so it's about the principle and not the money. >> it's the principle, not the money. it's the principle. if we start doing that in this country where governments can come in and take what it wants and thumb their nose at you it's wrong. what's the capitalist system like? what do we believe in? government has the right to take what they want? and you shut up and eat your rice? >> rose: you're tough? >> i'm try tirg fair. >> rose: nobody can listen to you at this program, especially program and not feel the anger, the pain, the sense of injustice that you feel it's all of those things. >> and there are thousands and thousands of people in this country who have been harmed grievously. >> rose: did you do anything wrong? >> no. >> rose: at any stage. >> no, no, no. >> rose: at no point? >> no. >> rose: and have been conducted of nothing. >> no. exactly right. >> rose: you don't know
you have to hold the government accountable for what it does! you can't take private property away from shareholders and say "i'm not going to bother to do it." >> rose: so it's about the principle and not the money. >> it's the principle, not the money. it's the principle. if we start doing that in this country where governments can come in and take what it wants and thumb their nose at you it's wrong. what's the capitalist system like? what do we believe in? government...
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Mar 25, 2013
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if we go back to july of last year when we had the draghi speech, an important component was german government support overruling the bank and supporting the ecb. and now if they're taking a tough line, there's ambiguity there. >> so there still may be worse things happening in the eurozone. so in terms of the trade or a trade, where do you see the euro going? after it's broken the 200-day moving average went to levels we didn't see last week, even when there was so much uncertainty surrounding cyprus, is there a floor here for the euro? >> i don't think it's going to go that much lower. it's already taken a lot of pain. and the outcome was terrible for cyprus people, bank investors, for the rest of europe it's really not that important. but what i do think it does is make europe and euro much more susceptible to any kind of negative shock. if you're an investor in anything but a prime institution, the first thing you're going to think about is get my money out. and if you're a policy maker, the first thing you're going to ask is when should the gates get shut? >> right. steve, thanks for comi
if we go back to july of last year when we had the draghi speech, an important component was german government support overruling the bank and supporting the ecb. and now if they're taking a tough line, there's ambiguity there. >> so there still may be worse things happening in the eurozone. so in terms of the trade or a trade, where do you see the euro going? after it's broken the 200-day moving average went to levels we didn't see last week, even when there was so much uncertainty...
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Mar 21, 2013
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that was the first government, you know, the issue of. melissa: they were great. >> and then things slow down. and it pcked up right around christmas. in january to a little bit. i think if you talk to everybody, all consumer businesses, if you look at same-store sales, that is what it will tell you. melissa: stay right where you are. we will take a short break, and on the other side of the push to a height minimum wage grows stronger. how can land breeze and the restaurant industry to withstand the blow? we will talk about it. you heard about the $22 minimum wage. piles of "money" coming up. ♪ ♪ your finances can't manage themselve but that doesn't mean they won't try. bring all your finances togeth with the help of the one person who can, a certified financial planner professional. cfp -- let's make a plan. ♪ melissa: he's making some "money." i'm back. this ceo of lenders ink, which has businesses in dining, gaming, entertainment and hospitality industries. i want to ask y about minimum wage because this is a huge debate right no
that was the first government, you know, the issue of. melissa: they were great. >> and then things slow down. and it pcked up right around christmas. in january to a little bit. i think if you talk to everybody, all consumer businesses, if you look at same-store sales, that is what it will tell you. melissa: stay right where you are. we will take a short break, and on the other side of the push to a height minimum wage grows stronger. how can land breeze and the restaurant industry to...
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Mar 18, 2013
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he said the number has been exaggerated by the communist government, the former communist government. the officials are saying the imf nor the ecb has independently verified this figure. tyler, i have a call in to the imf. i'm awaiting their response. >>> 40% of the deposits in the cyprus banks belong to foreigners. many of whom are russian investors. robert frank here with the fallout on this. i guess it's easier for the cyprus officials to say let me take the money out rather than lay the whole cost of this bailout on cyprus' taxpayers. >> but the way they did it is surprising. cyprus is not just a tax haven for russia, it is the tax haven for russian millionaires and billionaires. russia has invested $119 billion, that's with a "brks" in cyprus in 2011 alone. that's by far the largest recipient of russian investments in the world. equal amount of investment came back to russia from cyprus. funny how that works. russian investment is five times the total economic output for cyprus. russians account for $20 billion of total bank deposits or, tyler, as you mentioned, more than a third
he said the number has been exaggerated by the communist government, the former communist government. the officials are saying the imf nor the ecb has independently verified this figure. tyler, i have a call in to the imf. i'm awaiting their response. >>> 40% of the deposits in the cyprus banks belong to foreigners. many of whom are russian investors. robert frank here with the fallout on this. i guess it's easier for the cyprus officials to say let me take the money out rather than...
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Mar 25, 2013
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yes, you will get flexuation but the dividend is a nice alternative rather than waking up and the government telling you that you lose 30% of your money. >> that woultd be a bad wake up call. so, now, check out the yahoo! finance question of the day. how are you positioning the international holdings in your portfolio? we'll bring you the results later in the show. let's go to josh with the market flash. >> check out thetanking now. the analysts saying that they are gaining on check point. conversations indicate a marketed increase in share losses in the past several months. sue, back to you. >> thank you very much. it's risk off today. we're off 116 points right now on the dow jones industrial average. moments from now ben bernanke will address a group of top policymakers in london. investors will watch for any and all signs and perhaps some comments on what's going on in europe, too. steve describes what is on top of the agenda today. clients are always learning more to make their money do more. (ann) to help me plan my next move, i take scottrade's free, in-branch seminars... plus, their
yes, you will get flexuation but the dividend is a nice alternative rather than waking up and the government telling you that you lose 30% of your money. >> that woultd be a bad wake up call. so, now, check out the yahoo! finance question of the day. how are you positioning the international holdings in your portfolio? we'll bring you the results later in the show. let's go to josh with the market flash. >> check out thetanking now. the analysts saying that they are gaining on check...
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Mar 22, 2013
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you want the government to take less money out of the private sector. the way to do that is fair tax policy. this is the story. it is jimmy fallon and jay leno. the story that goes unsold by the countless families who we've new york every year to go to places where they have jobs. >> it could be a good lesson for california that is taxing the industry that, you know, funds everything to death. the entertainment industry. they are taxing the wealthy. more and more people are taking their production to canada and other states. i mean, what is bad news for new york -- is there anyway that california gets the message and lowers their taxes to try to work with people? >> the only way you will see it is a targeted tax credit. that is not a sensible way. the sensible way is to broaden the base. democratic governors are doing the exact opposite. they are raising tax rates and shrinking tax bases. if the government is picking winners and losers, jimmy fallon in hollywood are winners in this case. >> okay. josh, thank you for coming on the show. >> thank you. mel
you want the government to take less money out of the private sector. the way to do that is fair tax policy. this is the story. it is jimmy fallon and jay leno. the story that goes unsold by the countless families who we've new york every year to go to places where they have jobs. >> it could be a good lesson for california that is taxing the industry that, you know, funds everything to death. the entertainment industry. they are taxing the wealthy. more and more people are taking their...
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Mar 19, 2013
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story and why he is suing the government on behalf of the stockholders after the government bailed out a.i.g. and paid back the money with interest. >> the fact had to come out what really happened. the so-called accounting scandal turned out toe virally nothing. the corporate governance of the united states changed after enron. boards became more critical of almost anything that everybody was doing but i wanted -- more importantly i wanted the 92,000 people that helped build a.i.g. and all the things they did to make it the greatest insurance company in history. that story had to be told on their behalf as well. >> rose: a president's visit and the story of hank greenberg when we continue. captioning sponsored by rose communications from our studios in new york city, this is charlie rose. >> rose: president obama will travel to the mile east this week. it will be his first time visiting since he entered the white house four years ago. he will meet newly reelected prime minister benjamin netanyahu in jerusalem on wednesday. the president has often been criticized for his distance relat
story and why he is suing the government on behalf of the stockholders after the government bailed out a.i.g. and paid back the money with interest. >> the fact had to come out what really happened. the so-called accounting scandal turned out toe virally nothing. the corporate governance of the united states changed after enron. boards became more critical of almost anything that everybody was doing but i wanted -- more importantly i wanted the 92,000 people that helped build a.i.g. and...
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Mar 20, 2013
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when we do that, government becomes bigger and yes undermined what our society is good as doing, which is letting people make decisions on a local level. >> neil: are we winning that pr argument? i mean you lost your race. and i was thinking you had a compelling, cogent argument. we have to stop this. i wonder if part of what is going on here is the other side's very effective as saying no problem here. you know. >> you know what they're effective at saying? we're going to make your lives easier in the short term and we should say we're going to make your lives better for generations to come. my parents came to this country not for an easy life but for opportunities. they wanted their children to be whoever they wanted to be as long as you worked hard and you were -- you just did everything you needed to do. you can be whoever you wanted to be. you didn't have to conform to what society told you they wanted you to do. >> very true but they just don't seem to get t thank you. dow that all without hand gestures. look at this. >> i know. >> neil: my goodness. >> nice to see you, neil. >>
when we do that, government becomes bigger and yes undermined what our society is good as doing, which is letting people make decisions on a local level. >> neil: are we winning that pr argument? i mean you lost your race. and i was thinking you had a compelling, cogent argument. we have to stop this. i wonder if part of what is going on here is the other side's very effective as saying no problem here. you know. >> you know what they're effective at saying? we're going to make your...
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Mar 24, 2013
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government. all of the politics that goes on. thatith the fact that you ruined the country now if that was thriving. as one of our previous vigil said. it was thriving on its own before it entered the eurozone. >> my parents were born there and i can tell you that economically, they have a beautiful country. they wouldn't have had this. neil: maybe they will wake up and realize however dramatic and unruly be adjustments, maybe the longer-term direction is away from a club where most of the members don't even qualify to be a part of it and just bolt from the club altogether. in the european union union does divide. >> yes, it is a battle for supremacy for a domination of europe. it is being done almost totally covertly without real approval of citizens. >> there is the european union going? >> i think it will. being british, i hope that it will. i am vice president of the independence party in the uk. >> i have no idea. i always thought that was a fake accent. [laughter] >> you know, the country t
government. all of the politics that goes on. thatith the fact that you ruined the country now if that was thriving. as one of our previous vigil said. it was thriving on its own before it entered the eurozone. >> my parents were born there and i can tell you that economically, they have a beautiful country. they wouldn't have had this. neil: maybe they will wake up and realize however dramatic and unruly be adjustments, maybe the longer-term direction is away from a club where most of...
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are now taking tax money out of the government and so of course you're going to have budget deficits go up was this just like a crazy idea in the first place yes i think so i think that the whole notion of an automatic fix level denies the inevitable flexibility the inevitability of new developments that no one who wrote these rules ever for saw and that it. puts a straight jacket on policy makers that never makes much sense that forces them to violate these rules that violation is interpreted in strange ways by the different players in an economy it's an irrational way to manage a capitalism that is always unstable and unpredictable so i would like to mention something about the cyprus event i think it's enormously important much more that's been understood first of all the the government of cyprus agreed with europe to impose these levees on the depositors of their own country they were planning to do that hope they'd be no trouble and had originally scheduled for their banks to open tuesday yesterday when the cypriot people said no way you are not going to make us pay for a crisis
are now taking tax money out of the government and so of course you're going to have budget deficits go up was this just like a crazy idea in the first place yes i think so i think that the whole notion of an automatic fix level denies the inevitable flexibility the inevitability of new developments that no one who wrote these rules ever for saw and that it. puts a straight jacket on policy makers that never makes much sense that forces them to violate these rules that violation is interpreted...
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Mar 19, 2013
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. >> you know every liberal's dream that government seizing your money out right, there is nothing you can do about it. now no cyprus they could find out the hard way, this tiny island nation sent a tsunami shockwave to the rest of the world, keeping the banks closed until they find a more palatable way to. welcome i am neil cavuto, you got 10 grand in a bank account. how about waking up tomorrow morning and then finding a thousand bucks missing, right off the top, does that sound over the top? in cyprus that is reason that thousands of bankustomers are blowing their talk, with talk of a 10% tax on deposit the money, has a lot of angry customers storming the atm machines but the government has closed banks to avid a bank run, a keeping them close until they sort this out, but the tax is till coming. for cyprus it is about the cost of staying in the euro club, never mind how average i citizes there are getting club. but this is about taxing assets there. something with which we should all be very familiar here. no uncle sam has not hacked into our bank accounts -- yet, but he made a b-l
. >> you know every liberal's dream that government seizing your money out right, there is nothing you can do about it. now no cyprus they could find out the hard way, this tiny island nation sent a tsunami shockwave to the rest of the world, keeping the banks closed until they find a more palatable way to. welcome i am neil cavuto, you got 10 grand in a bank account. how about waking up tomorrow morning and then finding a thousand bucks missing, right off the top, does that sound over...
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so the government has been signaling other moves in other stocks. so i like to buy things on a bargain when i go shopping. now is a great time to sit and do fundamental analysis. >> that is the huge caveat. this is not going and picking randomly through stocks. you have to really know the stuff inside out before you get involved. >> you have to do work to make money. what a concept. no, i agree. >> do you like french banks. >> i don't have any particular view on one general sector. it's bank by bank by bank. there's no easy trade here. >> are there any banks that you like in france. >> i don't have any off the top of my head right now. there's an italian company with 17% of the revenue comes from italy. so it's going to get sold down in the italian market. a german robotics company. a lot of revenue comes from outside the eu. it is giving a sale. it's really a great find. >> any hedging currency based on the dollar to the euro? >> yes. we go long and short. so on the net currency we tend to hedge it, yes. >> when you compare europe to the united sta
so the government has been signaling other moves in other stocks. so i like to buy things on a bargain when i go shopping. now is a great time to sit and do fundamental analysis. >> that is the huge caveat. this is not going and picking randomly through stocks. you have to really know the stuff inside out before you get involved. >> you have to do work to make money. what a concept. no, i agree. >> do you like french banks. >> i don't have any particular view on one...
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Mar 24, 2013
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government should spend to spur growth. let's look at interest rates. >> yes. >> a lot of projections when they go forwarded are assuming that interest rates will stay low. if you look at the ten-year treasury yield over the '90s averaged 6%. the last seven, eight years, 4%. it is currently less than 2%, as you know. >> right. >> the possibility of interest rates staying as low as they are now is highly unlikely, and that as interest rates rise, yes, the economy will recover but the interest payments on the much larger debt become crushing. >> a couple of things there. first of all, as long as the economy remains weak interest rates will remain low. if the economy gets stronger interest rates will go up but also if the economy gets stronger we will have more revenue and then i start to become a deficit hog. by no means am i saying we have to stay in this expansion mode under all reasons. the idea that we will be facing higher rates is belied by history. look at japan. they have been running deficits twice the debt burden th
government should spend to spur growth. let's look at interest rates. >> yes. >> a lot of projections when they go forwarded are assuming that interest rates will stay low. if you look at the ten-year treasury yield over the '90s averaged 6%. the last seven, eight years, 4%. it is currently less than 2%, as you know. >> right. >> the possibility of interest rates staying as low as they are now is highly unlikely, and that as interest rates rise, yes, the economy will...
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Mar 21, 2013
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this so-called government style which is he believes that they should be doing the dirty work. he is sitting above the whole process. they should be bringing these things to him. he will sign whatever is put in front of him. so the assault weapons ban goes down because he doesn't have the votes to push it through. then where is obama? keys in israel. >> the president, working on the n.c.a.a. bracket. he should be doing michele on espn. lou: that's next. >> exactly. lou: of we going to see meaningful, whenever meeting you want to assign to it, meaningful gun legislation out of this congress? >> i think we're likely to see the background check which i thought from the very beginning was the most likely outcome. it pulls well, the kind of thing the republicans don't feel like i want to stand up and fight on including some nra members and some leaders. you're not going to get an assault weapons ban. i don't think you're going to get -- none of the things that the president really wanted. it's not going to happen. >> politics is a trump card because to survey the landscape and saw a
this so-called government style which is he believes that they should be doing the dirty work. he is sitting above the whole process. they should be bringing these things to him. he will sign whatever is put in front of him. so the assault weapons ban goes down because he doesn't have the votes to push it through. then where is obama? keys in israel. >> the president, working on the n.c.a.a. bracket. he should be doing michele on espn. lou: that's next. >> exactly. lou: of we going...
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government's really good at apprehending things when they actually happen. this new material on the books should've been knew about it and what happened was in two thousand and eight the day after new years there were a group of terrorists who decided that they were going to try to get oil up to one hundred dollars a barrel and what they did with planet for about three months in advance. the company involved with con agra foods trading. trading and they worked with traders that kind of as well as on the trading floor and they. were going to be mad that. they traded it out. they actually jumped the price the price was lower it was forty cents lower and they pushed it up two hundred dollars they were caught and told to stop so they went back and they bought everything they could all the way two hundred dollars they could keep the price print and that was what the transcripts the phone transcripts that were released by the government indicating now when the traders were caught manipulating markets rather jamie diamond in the silver market or whether it's got ag
government's really good at apprehending things when they actually happen. this new material on the books should've been knew about it and what happened was in two thousand and eight the day after new years there were a group of terrorists who decided that they were going to try to get oil up to one hundred dollars a barrel and what they did with planet for about three months in advance. the company involved with con agra foods trading. trading and they worked with traders that kind of as well...
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there but do they need a defense when you have the regulators and the government officials paying tribute to these guys doing heroic work by breaking laws acting outside of the law manipulating markets they're lauded as heroes they don't need defense. i guess. that's so far no right because what we're seeing is the regulators know what's happening in this case the traders were not fine they were not punished paid twelve million dollars but that's pocket lint to them while they can manipulate markets to pay the fine. just b.c. barclays bank of america j.p. morgan jamie dimon if. caught breaking the law like they are repeatedly they just miss relate more to pay the fine so it's really a nonevent matter fact without that manipulation the us economy would crash now which government officials learn of this how did they learn of the manipulation and what was their response just break that down well there was a lot of complaining on the trading for that day by traders who actually wanted to to buy or sell it at a lower price price when they investigated it but there is a agency with the us gover
there but do they need a defense when you have the regulators and the government officials paying tribute to these guys doing heroic work by breaking laws acting outside of the law manipulating markets they're lauded as heroes they don't need defense. i guess. that's so far no right because what we're seeing is the regulators know what's happening in this case the traders were not fine they were not punished paid twelve million dollars but that's pocket lint to them while they can manipulate...